Amazon cruises on strong holiday sales

A day after Apple announced a new device that some say goes right at the heart of the Kindle e-reader, Amazon--the maker of the Kindle--reported fourth-quarter net income of US$384 million, or 85 cents per share, up from 52 cents a year ago. Revenue was US$9.52 billion, a 42 percent increase over the year-ago quarter. (Statement)

Wall Street analysts had been expecting earnings of 72 cents per share on revenue of US$9.01 billion.

During the quarter, which included the holiday season, the company said that November was its "best sales month ever" and that the Kindle was the "most gifted item ever" on Amazon.com.

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